American Epsilon to invest over $2 billion in development of hard-to-recover gas reserves in Uzbekistan

The US investment company Epsilon Development Company will invest more than $2 billion in the development of hard-to-recover gas reserves in Uzbekistan, Forbes Kazakhstan reports.

“In Uzbekistan, Epsilon has received five large investment blocks of gas fields and plans to invest in them more than $2 billion in total,” the report says.

Cooperation is carried out on the basis of a special government decree.

“The development of heavy deposits is a high-cost production that requires consideration of both technical and financial risks, and, of course, the investor is trying to arrange its activities with favorable conditions. At the same time, Uzbekistan managed to protect its interests and build relations according to the principle of public-private partnership (50 to 50) in such a way that the amount of investor's expenses does not affect the share received by the state from sales of marketable products,” noted in the article.

Epsilon, in turn, for the implementation of the project, attracts such industry leaders as Schlumberger, the largest oilfield services company founded in 1926.